One stock that just exploded onto the OTC scene to close out last week was Turner Venture Group Inc (OTCMKTS:TVOG). Shares blew up on Thursday and Friday, blasting through the 200-day moving average, nearly tripling in price at its highs. To further flesh out the story, the company just announced that it has accepted terms for a placement plan with GHS Investments, LLC, a New York based, public equity fund.
According to the release, “After considering various options, the Company chose GHS, a leading private investment and management group providing financial solutions for small cap enterprises, to assist in the roll-out of Turner’s disruptive infrastructure strategy as the anchor investor. GHS has agreed to terms with TVOG following extensive due diligence, management interviews, and a detailed analytic study of the Company.”
Turner Venture Group Inc (OTCMKTS:TVOG) bills itself as a company that does not have significant operations. Previously, the company was involved in the exploration, development, and production of oil and gas properties in Alberta, Canada. It intends to acquire and evaluate small to mid-sized businesses as merger and acquisition candidates.
The company was formerly known as NetParts.com. Turner Valley Oil & Gas, Inc. was founded in 1999 and is headquartered in Houston, Texas.
According to company materials, “Turner (OTC:TVOG) is a solutions provider of innovative infrastructure solutions, services and differentiated infrastructure-related technologies to the U.S. infrastructure industry. The company is focused on the Services, Supply Chain and Technologies segments with plans to operate a wide range of businesses including road and highway pavement companies, supply chain related and technology/R&D companies that provide innovative solutions for the construction, maintenance and repair, support, transportation and technologies throughout the U.S.”
Find out when $TVOG reaches critical levels. Subscribe to OracleDispatch.com Right Now by entering your Email in the box below.
As noted above, TVOG just announced that it has accepted terms for a placement plan with GHS Investments, LLC, a New York based, public equity fund.
Recent action has seen 130% during the past month in terms of shareholder gains in the name. What’s more, the listing has registered increased average transaction volume recently, with the past month seeing approaching 1200% beyond what we have been seeing over the larger time frame.
Turner CEO Steve Helm stated, “The capital influx from GHS is a crucial step for Turner and will provide the foundation for growth that we envision. GHS has vast experience in the infrastructure industry and we are grateful that they recognize our Company as a coming major player in this space that is well positioned for growth.”
He went on to state, “It is an exciting time now that we have secured the first two acquisitions for Turner within the infrastructure services segments to serve as cornerstones for the platform we have created, and we are going to continue an aggressive acquisition and growth plan. The steps outlined in our Company website update on January 24 are the critical next components so that we may be recognized on a major exchange and increase our transparency to the investment community, and we are working diligently to finalize and announce our results.”
At this time, carrying a capital value in the market of $2.74M, TVOG has virtually no cash on the books, which must be weighed relative to about $351K in total current liabilities. The company is pre-revenue at this point. As more color becomes clear on the name, we will review the situation and update our take. Sign-up for continuing coverage on shares of $TVOG stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in $TVOG, either long or short, and we have not been compensated for this article.